China National Team’s $68 Billion Exit Alters Stock Strategies
For years, investors in China’s stock market took comfort in an unseen backstop: the so-called national team, quietly deploying vast firepower to cushion selloffs and stabilize prices. The script flipped last week. Record outflows from exchange-traded funds held by Central Huijin Investment, a sovereign wealth fund, sent the clearest signal yet that Beijing is no…
